Save Article

European banks issue bonds

By

Michael WilsonThe Wall Street Journal Europe

Updated Dec. 11, 2008 12:01 a.m. ET

European banks have begun issuing bonds without government backing for the first time in months, suggesting they could soon begin weaning themselves off the government support that has been central to the survival of the financial system.

On Monday, BNP Paribas SA came to market with the first nongovernment-backed issue of bank bonds in months. Italy's Intesa Sanpaolo SpA and France's Soci&eacute;t&eacute; G&eacute;n&eacute;rale SA followed BNP's lead Wednesday, selling nonguaranteed senior bond deals of their...